Hi Roger,
Here's one way to do it. If you are worried about the current draw of a regular 555 then maybe we can modify this circuit a little to turn the 555 off completely when the voltage supply is in spec. That way it would only be on during the LED pulsing.
First off, my thanks to the creator of this forum, and a BIG thanks to you, MrAl, for taking your time to personally help the folks who wander in and out of here.
I've got a 555 breadboarded, using a 22K for R1 and a 22uf for C1, running astable (without R4, R5 and Q1). The circuit is connected to 6 AA alkaline batteries (used ones, without the circuit load I show around 7.4V, with 6.5V). Current draw is around 4.2mA off, 6.7mA on.
This circuit pulses the LED for 0.5 seconds every 5 seconds approximately. Changing the resistors R1 and R2 modify both of these timings. R1 for 'on' time, R2 for 'off' time.
I made some changes to R1 to shorten the pulse duration (down to 6.8K) but it didn't seem to change the amperage draw enough to worry about. The timing cycle you have is perfectly adequate. The ALD7555PAL specs in the uA range looked promising, but the 10V max supply voltage killed that idea due to my 12V automotive power option. I guess I'll just stick with a NE555N.
Realistically the Tiny Trak4 (TT4) documentation says it draws an average of 40mA, the LCD specs are 2mA to 5mA without backlight (72mA to 80mA with, which is why I included the option to turn it off), I'm not sure of the additional requirements for the keyboard (5mA to 10mA assumed), but the keyboard wouldn't be attached all the time. So a worst-case 150mA draw on a 2000mAH battery pack could be in the neighborhood of 12 hours if my math is correct. The devices to be attached to the TT4 are a Garmin GPS12 that claims 24 hrs operation with 4 AA alkalines (actual reviews say bring spares if you plan to use it all day) and an Icom IC-T90A transceiver that specs 5 hrs at 1x8 TX/RX duty cycle at full 5W power, I'm not sure if I can get 12 hours out if it at the lower 1W setting. Add to that the TT4 would be programmed for "Smart Beaconing", which would key the push-to-talk on the radio for a lat/long transmission depending on speed and direction changes, depleting the radio's battery more than just a simple time interval setting would if I move around a lot. So in practice, the "Low-Battery" circuit indicator may never come on before the batteries in the peripherals die, but it will be interesting to find out.
I'll order up the LM431 and fresh passives and report back later in the week on what I end up doing. Thanks so much!